My credit card was placed under arrangement and I was paying as per the monthly arrangment. Some time last year, a consultant from Card Division called me and advised that if I pay a certain amount in settlement my card will settled and closed. I did as advised as it sounded like a win-win situation. They sent me a settlement letter as well.
I went to FNB recently and was advised that I qualified for a cheque account. After my application was done, I was advised that the risk rating on my name was a "3" and this was a negative rating because my credit card settlement was "compromised". Firstly I was advised by the Bank consultant to pay the settlement amount and now this is being held against me. At no time, did the consultant mention that if I chose the "compromised settlement" would my risk rating remain a 3 and I would be see as a "high risk" client.
I would like to switch my account to FNB but if this is the way they treat their customers... will they live up to their motto of how can we help you?
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